Dr. Jim Yong Kim
IBRD, IDA, IFC, MIGA, ICSID
Washington, DC, USA and more than
:- More than 9,000 employees
Established :- July 1,1944
India became its member in 27th Dec, 1945
What is World Bank…?
The World Bank is a vital source of financial and technical
assistance to developing countries around the world. We
help governments in developing countries reduce poverty
by providing them with money and technical expertise
they need for a wide range of projects—such as education,
health, infrastructure, communications, government
reforms, and for many other purposes.
The World Bank was created at Bretton Woods in
1944 to lend to European countries to help them
rebuild after World War II. It was the world's first
multilateral development bank, and was funded
through the sale of World Bonds. Its first loans were
to France and other European countries, but soon lent
money to Chile, Mexico and India to build power
plants and railways. By 1975, the Bank also lent
money to countries to help with family planning,
pollution control and environmentalism.
How is it different form
The term "World Bank" refers only to
the International Bank for Reconstruction and
Development (IBRD) and the International
Development Association (IDA). The term "World
Bank Group" incorporates five closely associated
entities that work collaboratively toward poverty
reduction: the World Bank (IBRD and IDA), and three
other agencies, the International Finance Corporation
(IFC), the Multilateral Investment Guarantee Agency
(MIGA), and the International Centre for Settlement
of Investment Disputes (ICSID).
World bank and India
The World Bank Group is a key development partner
of countries across the world including India. In India
the World Bank has a portfolio of 77 active projects
and current total commitments of US$24 billion. The
strategy comprises of three key pillars:
- Maintaining rapid and inclusive growth
- Making development sustainable and
- Increasing the effectiveness of service delivery
Lending to India in the fiscal year 2011 was US$25.6
The Bank offers two basic types
loans: Support of economic
and social development projects
policy loans: Quick
disbursing finance to support countries
SUPPORT TO INDIA
India has been borrowing from the World Bank through IBRD
and IDA for various development projects in the area of poverty
alleviations, infrastructure, rural developments etc.
IDA funds are one of the most concessional external loans for
GoId and are used largely in social sector projects that
contribute to the achievement of Millennium Development
India has borrowed around US$ 65.8 billion from the World
Bank so far.
In 1958, the Bank played an important role in establishing
‘India Aid Club’ for providing specific economic assistances to
India. It has now been renamed as ‘India Development Forum’.
International Development Association (IDA), an associate of
World Bank is known as the soft loan window of the Bank and
was established on September 24, 1960.
During 1995-96 (July-June), India ranked first among the
nations getting assistance from IDA.
Projects in India
• Urban development
Relieve the debt burden of heavily indebted poor
Improve sanitation and water supplies
Support vaccination and immunisation programs to
reduce the incidence of communicable diseases like
Combat the HIV/AIDS pandemic
Support civil society organisations
Create initiatives to cut the emission of greenhouse
Analytic And Advisory
Public Expenditure Reviews
Country Economic Memoranda
Social and Structural Reviews
Topics in Development
AREA OF OPERATION
Agriculture and Rural
Health, nutrition and
Law and justice
Water supply and
It was started to reduce poverty but it support United
States’ business interests.
It is deeply implicated in contemporary modes of donor
and NGO driven imperialism.
The President of the Bank is always a citizen of the
Lack transparency to external publics.
It is an instrument for the promotion of U.S. or
The decision-making structure is undemocratic.
It has consistently pushed a “neo-liberal” agenda.
5 PRIORITIES OF WORLD BANK
World bank provides the largest external funds for
It is a big support in reducing poverty.
It provides fund for biodiversity projects.
it helps to bring clean water, electricity, and transport
to poor people.
It helps in controlling emerging conflicts.